Home > Archive: February, 2015

Archive for February, 2015

Excited for first pay day tomorrow!

February 26th, 2015 at 10:45 pm

HI all

Excited for first pay day tomorrow!! Have not had a check in 4 weeks and this one will have 401k money being transferred too.

Had a SUPER bad day at work yesterday.. but feeling good today (this sales guy talked down to me but he apparently is this way with everyone so I got over it)..

Hoping for a good month next month w the rentals but got that guy moving out at some point, the city inspection partial fix (rest will wait til that lady moves out) and a lease renewal to a 3 unit person at $630 to get signed off on or we need to turn the unit over.. Also submitting to get increased rents at the Section 8 homes. They say an exception maybe can be made and my rents increased. It would be great to NOT have to turn over the remaining homes to get a rent increase. Got the fair market rents off of HUD and the 3 bedrooms fair market rent is $1249. I get between 900-975!! I want to raise those rents the least cost way possible.

meet with tax guy hopefully SUNDAY!! Hoping for at least $10k. fund the ROth and save the rest.


6 homes/3 units update-and work update

February 25th, 2015 at 03:54 pm

Hi all

I went out this last weekend and walked through the 2 side by side homes in detail. These were 2 of the ones who had the city inspection and that we had not rehabbed yet. The home with the most items is being vacated in April (lady is moving on. YAY..we did not like here). we expect a rent raise from Section 8 to $1200+. it is at $975 now.. We will attempt to defer the fixup until then so we can just do the rehab at the same time when she is cabinets are way out of date so considering new kitchn cabinets there.. the other one had a some minor items and I love the tenant (but she only pays $950.. long term tenant and Section 8 is on that 10 year rent freeze). So this year for large expenses I have that one roof, the turn over of this house and probably turning over 3-4 units at the 3 unit property.. Feeling good and positive with raising rents and keeping things on track. Being MORE proactive and am now saving for this rehab..and the roof (vs being reactive and trying to pull it out of nowhere). I already socked away the cage bank money $1750 and will get $1250 from the tenant who is moving to go towards rehab/roof money.

We won in court for the 3 unit tenant who is not paying. he has until March 6 to move out. if he does not we have to file additional paperwork to physically move him out and the physical move will likely happen at the end of this month. Attorney was wonderful.. easy and low cost and costs DEFINED.. So he is moving end of month either way. one bad tenant down. I get updates on the other tenant today (the one trying to catch up) and property manager is sending out lease renewals today.

Feeling positive

My hours at work definately look like 45+ a week on a regular basis. This means I can fully fund the 401k and save $13-1500 a month on top. some months this will be true savings some month it will go towards the work above.


Weight loss and smaller goals

February 18th, 2015 at 07:47 pm

Hi guys

As you know I do not get a paycheck this month (due to timing with old job and new job paycheck cutoffs). anyway I am feeling like I am missing my 'fix' of saving here and there. What 'small goals' do you guys set that help you get through and stay motivated?

Also I ordered Nutrisystem and am working out a system to eat at home. I used to eat out alot.. now cooking.. buying food.. fun. learning and less money for better food. have more energy too. Will start to track savings.

I am ordering Nutrisystem for either 1 or 2 months to help me learn portions.. good eating and to get a jump start.. also exercising 30 minutes and drinking every day and KEEPING Track. I am 15 pounds over what I weighted 'pre buying house back from the bank'.. I gained 10 lbs there and the other 5 with the old job.

Onward to a healthier happier me.

Anyone have experience with Nutrisystem?

6 homes/3 units. more challenges and opportunties

February 17th, 2015 at 01:00 am

Hi guys.

First of all does SA load slower for you lately? these past few weeks it loads super sloooow.. I use Chrome .. any advice?

Updates. 2 of my homes are subject to city inspection. got a lengthy inspection this time.. (first time inspection since I had the homes). anyway getting quotes and looking at the homes this weekend with the manager but expecting a few thousand? news sooon

Also one of the 6 homes people (the one we were actually considering getting rid of) is moving out on her own.. that is 'good' but these homes have not been fixed up in 5-7 years .. because tenants have stayed so long. I am expecting a few thousand to turn it over.. Luckily these paragraphs are on the same house so maybe we can do double duty and save some $

On a high note too. I should get at least $1100 if not $1200 or more for rent on the house she is moving out of . Current rent is $975 so big bump in rent and easy to rent.

I am taking my $1750 for the cage bank and applying that towards the rental fund to help with costs of the above.

So far even with one guy not paying and 1 lady behind I am sticking to my budget every month.. makes me feel it will be awesome when I have full rent.

So hanging in there and better organized than last year but got some 'turning over' of units to do this year too.. so some costs to cover.

Next month marks the 24th payment and after that I have 3 years to go on the 6 homes...continuing the count down

Sold the cage bank! and 3 units and other updates

February 14th, 2015 at 02:49 pm

HI all

Sold the cage bank for $1750.. taking payment today and then dropping it off next weekend. YAY!

Also found another $500 so definately making up that shortfall for this month. maybe I can save something?

Another 45+ hour work week and going to Nashville next week for work.

I feel like this year will be a good year.

The lady making payments paid $600 yesterday .. maybe she CAN catch up. I have a call in to the property manager to see what her plan is.. either way we have done the 5 day notice so can file at anytime.

Guy not paying at the 3 units.. court date is next Friday. quick!.. hopefully he leaves on own before or shortly thereafter

Attorney said I do not have a significant enough case against the old property manager for damages for putting this guy in with out doing proper screening. so moving on

Almosst done gathering up all tax docs. hope to work with the CPA the week after next or next weekend. Hoping for a BIG refund so I can fund the Roth and have more left over

Motorcycle guy (owes me $6k) .. no news yet

Dad is not doing well. and his girlfriend is indicating she is moving on and he needs to be in a memory care or other home (and he does). so will be setting that up in the next few months unless something changes.. little scary sad.. but plowing through it. he looks very ill and is VERY WEAK.. so not sure how this is going to go or for how long. Need to sell his house in Wisconson. car and stuff inside house. Girlfriend will assist.. and need to find a place out here..Dad is not being forthright with his financials at this point so will try to get information out of him. I am SO GRATEFUL that where I work is so large they have offices all over and have one near Dad (20 minutes) away so when I want to work in Wisconsin I can.

Looking to buy the 3rd row seats for the Tahoe off of ebay ..$799..(sold them last year for money thinking the Tahoe was long term car).. with the 3rd row seats I can get $1500 more at Carmax and I am sure more everywhere else in general. Some guy online (I called him) had a similar car to mine. same year.. great shape. sold for $23k cash to some buyer off Craigs list. Buyer had to get a loan but that was it. I owe approx $16k on the Genesis after the Warranty credit which is STILL not there. was thinking to pay off the car and when the time comes buy a 4x4 SUV for me and the rescue to use at a much lower price. Rescue maybe can kick in a portion.. hard to justify the Tahoe sitting all year.


All good news. feeling positive

February 11th, 2015 at 06:53 pm

HI all

All good news . feeling positive.

Overtime approved long term! up to 50 hours (have to ask if more than that)

Put 401k percentage in at 16%.. work will contribute an instant vest match of 3%^ so almost 20% total will go in allowing me to max it out this year

Rents all in at 6 homes and 3 units. except payment lady and guy we are throwing out.. my budget for the month is set now.. no more variables out of my control.. running $700 short with FIT BIT (see below) and medical bill.. but got an idea to make up $500 of that. Realistically I have a $1500 buffer in my checking so am fine but want to not use that.

speech is improving.. stutter subsiding as i get more at ease with my teammates etc. drove to Brown Deer, Wi yesterday to meet people HUGE HELP.

My boss however at work was let go.. unsure why. they are posting the job. I will express my interest in wanting full time but I just started and want to get he lay of the land first.

I got the FITBIT (some electronic wrist band thing) that someone else got here that tracks calories, miles walked etc. can not wait for it to come. I want to get fit this year and get into a sustainable routine with this work at home.

I can now work at home ANYTIME I want but will go in to work every so often.

Feeling good.

3 unit updates

February 7th, 2015 at 05:12 pm

More 3 unit updates.

Got costs from attorney referral.. $250 if no trial. $350 if trial.. feels good to have it quantified..

No news on non paying guy. attorney will file Monday.
The person with a balance was served w a 5 day notice and says she will pay $600 next FRiday and get caught up in full by March. We will wait to file to see if the $600 comes in.. and wait out the 5 day notice. Basically though she is unlikely to suddenly turn into a good payer long term so at some point she may just need to go.

Meanwhile. trying to figure out if there is a way to terminate water for INDIVIDUAL apartments. Right now the city says they can only turn off the entire 3 unit building. If there is not a way to teriminate individually that might be a good thing to install in the future. City gave me and the property manager things to look for to check this out.

Rents still being collected. do not have final count on 3 units. but the 6 homes rents are in.

Already paid 3 unit mortgage.. 6 homes one is not due until the 25th.

Onward. Smile

Figuring after 3 months on this new job I will change my goal of a 4 month emergency fund down to 3 (which I already have) and if renewal or full time looks likely a few months after that. I may invest some of that fund to grow it..

New job update and 3 unit update-some good some rough

February 6th, 2015 at 01:24 pm

HI all

Another update.

New job. STRESS LEVEL is dramatically reduced. It is challenging with it being new and my stutter but looks manageable and fun. I drive to Brown Deer Wisconsin Monday to meet my bosses boss and some other folks and I go to Nashville the 17-18 to meet some clients and my project team. Meeting in person will help my speech anxiety. Excited. Boss is not who I thought it was .. they switched it at the last minute. He is in Florida. Basically i have no team mates or boss locally.. little weird but this company gives you lots of latitude IF you get the job done. I am handling a MAJOR project (the infrastructure side). little scary still but hanging in there. Last day of my first week is today (whew!)

ALSO my boss . this is crazy but possible good news. These folks work over 40 hours ALL the time so I asked him if I was capped at 40? and he said he will check the way I was set up but was not concerned so while he checks that (2-3 weeks) I am ok to bill overtime. 'just try to keep it at 10 hours over. do not want you working all night'

TEN HOURS OVER is almost $2000 extra a month!! WOW.

Anyway it is hard for me to work 10 hours over since I have to work at work these next few weeks and this week did not get on the network until yesterday, also waiting on VPN access but at home it will be easier and actually I have the work now to do the overtime so will get in some.

FIngers crossed that overtime works out long term.

3 units.

A rough patch (which I and the Property Manager knew). a little rougher than expected because I did not realize or think that my PM can not go to court for me because his name is not on the lease. it is the old property managers name. This means we have to get an attorney $$

Anyway.. person who has been continuously behind . we are filing court docs on her and the guy who 'just moved in in Dec' we are filing court docs on him. Hope and thought is that these guys will be gone way before court date comes but you never know.. And my property manager did not put these guys in there so we do not know them. Never had to go to court before (except years ago when I was like 20) so this is upsetting. I will get costs/plan today and tomorrow.

upsetting but better to take the loss and move on then have this drag on and on.

Reclaimed both their security deposits to help with cash flow.

First renewal goes out next month ( new lease) for someone else in the 3 units at $630. We will see how that goes.

6 homes still going well. that lady we moved in last year (fire insurance claim) we have no word yet on when she is moving out but it will likely be in these next 3 months. No other pending move outs.. so 6 homes are riding right along there.

and this month I paid all bills and my estimate to the 6 homes/3 units fund already(I subsidize that every month since it is on a 5 year payoff and does not cash flow on its own) and am coming out with a projected $500 short for the month. I have no more projected job income coming in this month at all. I have $1500 buffer in my account though but am going to try to come up with that $500 or cut costs so I do not ahve to use it.3 years left on the 6 homes as of March. Turning these 3 units over and cleaning that situation up should reduce my monthly pay in to $700 a month. Also taking care of these large things helps too. just getting the homes and 3 units in shape and purring along.

Only variable at this point is for the month (1) rents/costs ( I estimated HIGH COSTS and 6 homes rents are in. no word if all 3 units are in but we will be missing at least 2 which are already in my estimate) .. (2) food/misc monthly expenses.(also estimated high) .. probably can shave a lot here.

Here is to hoping I can cover this $500 shortfall with out any pulling out of funds.


Estimatimg my tax refund as $11-13k. Hope that is the case. If so. I will fully fund the Roth (need to check with my accountant that I can ) and put the rest towards savings.

Guy with that motorcyle.. STIll in contact.. still trying to sell. HE needs to sell it now too so he is working harder and is in more contact. Remind me NEVER to loan people money again. Anyway that is $6,000 which will put the rental emergency fund back up to where it should be. $15,000

If I can average 45 hours a week at work . I can MAX out the 401k (company gives 3% instantly vested match so all I have to put in is 13%) and then use the rest to save.

Still waiting on interpretation of city inspection report .. hopefully news this week or next and then I will go out there myself to see.

First day at NEW JOB and more savings

February 2nd, 2015 at 03:01 am

Hi all

My old job asked me to bill an extra 20 hours last week so I could help with transitioning my work after hours. Total billed 61.5. that is 700 extra after taxes) WOW! That is awesome. Also got an unforeseen insurance refund of $100.

I put $1900 towards the vacation fund (as you know) and $500 towards saving to keep me at the $500 short still for the month... actually now only $350-400 short for the month. may put more towards the rental fund. we will see.. My plan/challenge is to make that $500 shortfall happen without dipping into savings.

FIRST DAY at the new job tomorrow.. sortof nervous.. excited.. hope it goes well

14 inches of snow today. glad I got my snowblower as a gift and that I still have the Tahoe.. need to figure out SOMETHING with a 4 wheel drive or the Tahoe.

3 units .. bumpy road but not unexpected. Guy who is not paying should be moving out this week. GOOD NEWS.. need to turn it over ASAP. Will take his security and unit should be in good shape as it was just fixed up last mmonth for him

Other lady who is behind missed 2 payments . we are doing a 5 day notice tommorrow and just getting rid of her. HOPEFULLY she goes fast without a big court thing and then we have our first renewal notice going out at $630 this month to another unit.

So little rough right now but will be better long term to get rid of these bad tenants and bring it back up to market rents.

6 homes continue to chug along but had a 'city inspection on 2 of them' (happens every 4 years).. got a big list .. property manager is figuring out costs and what exactly inspectors wants.. costs/plan next week..many items are small and you never really know from looking at the list as they pick from 'pre written drop downs' to fill in the form

STIll believe in homes and the plan.